1 year ago
The hacker liable for the $48 cardinal KyberSwap heist has escalated their demands, present seeking implicit enforcement power implicit the decentralized speech (DEX).
The hacker revealed the updated demands successful an on-chain message sent connected Nov. 30.
They had antecedently expressed willingness to negociate a bounty but complained of receiving threats and a wide deficiency of friendliness from KyberSwap’s enforcement squad connected Nov. 28.
Complete takeover
The hacker’s latest demands see full power of KyberSwap and impermanent and afloat ownership of KyberDAO, the platform’s governance mechanism. Additionally, they are asking for each documents related to the company’s structure, profits, revenue, assets, liabilities, and worker salaries. The attacker besides insists connected receiving each KyberSwap assets, encompassing some on-chain and off-chain holdings.
In return, the hacker promises to bargain retired the company’s executives astatine a “fair valuation” and pledges to treble the salaries of employees who take to stay post-takeover. Those opting to permission are offered a 12-month severance package.
The connection besides outlines plans for a “complete makeover” of the Kyber project, aiming to summation the worth of its tokens, which the hacker presently deems “worthless.” Liquidity providers (LPs) affected by the onslaught are promised a rebate equaling 50% of their caller market-making losses.
The hacker has acceptable a deadline for the KyberSwap squad to conscionable these demands by Dec. 10, oregon the connection becomes void. Additionally, immoderate cause interaction regarding the hacker’s trades connected KyberSwap volition nullify the projected “treaty.”
The hacker’s unprecedented determination has been met with a premix of alarm and skepticism successful the crypto community. It has besides renewed statement astir the information of decentralized protocols and however to amended them.
KyberSwap has yet to respond
The DEX’s enactment squad has not yet responded publically to the hacker’s latest message.
KyberSwap initially offered a bounty deal, proposing the hacker instrumentality 90% of the stolen funds and support the remaining 10%. However, pursuing the hacker’s deficiency of contiguous compliance, KyberSwap threatened ineligible enactment and claimed to person the exploiter’s integer footprints for tracking.
The DEX besides announced plans for a nationalist bounty programme to promote accusation starring to the hacker’s apprehension and the betterment of idiosyncratic funds.
From the $46 cardinal stolen, KyberSwap has managed to retrieve $4.67 million, attributed to actions by operators of front-running bots connected the Polygon and Avalanche networks.
The exploit, described arsenic an “infinite wealth glitch” by decentralized concern adept Doug Colkitt, was a analyzable astute declaration exploit crossed respective networks, including Avalanche, Polygon, Ethereum, Arbitrum, Optimism, and Base.
The station KyberSwap hacker demands afloat power implicit the DEX astatine ‘fair valuation’ appeared archetypal connected CryptoSlate.
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